Amneal Pharmaceuticals (NASDAQ:AMRX) Sets New 52-Week High – Here’s What Happened

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) reached a new 52-week high during trading on Wednesday . The stock traded as high as $11.40 and last traded at $11.35, with a volume of 2440737 shares trading hands. The stock had previously closed at $11.19.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMRX. Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 target price (up previously from $11.00) on shares of Amneal Pharmaceuticals in a report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amneal Pharmaceuticals in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Amneal Pharmaceuticals from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Amneal Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $12.50.

Amneal Pharmaceuticals Trading Up 1.4%

The business’s fifty day moving average price is $10.03 and its 200 day moving average price is $8.71. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 1,136.14 and a beta of 1.18.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its earnings results on Thursday, October 30th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. Amneal Pharmaceuticals had a net margin of 0.12% and a negative return on equity of 189.49%. Amneal Pharmaceuticals has set its FY 2025 guidance at 0.750-0.80 EPS. As a group, sell-side analysts forecast that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Andrew S. Boyer sold 279,244 shares of Amneal Pharmaceuticals stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $9.38, for a total value of $2,619,308.72. Following the transaction, the executive vice president directly owned 152,426 shares in the company, valued at $1,429,755.88. This trade represents a 64.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Kiely sold 32,000 shares of Amneal Pharmaceuticals stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $9.23, for a total transaction of $295,360.00. Following the completion of the transaction, the director owned 225,433 shares in the company, valued at approximately $2,080,746.59. This trade represents a 12.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 609,206 shares of company stock valued at $5,700,625. Corporate insiders own 26.56% of the company’s stock.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new stake in shares of Amneal Pharmaceuticals during the 1st quarter worth $31,000. Exchange Traded Concepts LLC purchased a new stake in shares of Amneal Pharmaceuticals during the 3rd quarter worth $31,000. Amalgamated Bank boosted its position in shares of Amneal Pharmaceuticals by 33.0% during the 1st quarter. Amalgamated Bank now owns 5,511 shares of the company’s stock worth $46,000 after purchasing an additional 1,367 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Amneal Pharmaceuticals by 16.7% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,107 shares of the company’s stock worth $98,000 after buying an additional 1,735 shares in the last quarter. Finally, Xponance Inc. boosted its position in shares of Amneal Pharmaceuticals by 16.1% in the 1st quarter. Xponance Inc. now owns 13,183 shares of the company’s stock worth $110,000 after buying an additional 1,828 shares in the last quarter. 31.82% of the stock is currently owned by hedge funds and other institutional investors.

Amneal Pharmaceuticals Company Profile

Amneal Pharmaceuticals, Inc, together with its subsidiaries, develops, manufactures, markets, and distributes generics, injectables, biosimilars, and specialty branded pharmaceutical products worldwide. The company operates through three segments: Generics, Specialty, and AvKARE. The Generics segment offers immediate and extended release oral solid, powder, liquid, sterile injectable, nasal spray, inhalation and respiratory, biosimilar, ophthalmic, film, transdermal patch, and topical products.